Apollo Education and University of Phoenix are an afterthought in the eyes of Apollo Global Management. They are one of more than 50 "assets under management."
If the profit/loss numbers people have leaked out are true, how long will Apollo Global Management accept the losses? They spent $1.14B on the takeover and they continue to lose money? Where's the value in that? And from what people have said, they have continued to have large, steady losses.
Sure, they are closing campuses and laying off people, but how will that work to turn a profit? And if they want to sell of University of Phoenix, what could they sell it for?